Gladstone Commercial Corporation Reports Results for the Second Quarter Ended June 30, 2023

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[{"type":"text","content":"Please note that the limited information that follows in this press release is not adequate to make an informed investment judgment.MCLEAN, VA / ACCESSWIRE / August 8, 2023 / Gladstone Commercial Corporation (Nasdaq:GOOD) (\"Gladstone Commercial\" or the \"Company\") today reported financial results for the second quarter ended June 30, 2023. A description of funds from operations, or FFO, and Core FFO, both non-GAAP (generally accepted accounting principles in the United States) financial measures, are located at the end of this press release. All per share references are to fully-diluted weighted average shares of common stock and Non-controlling OP Units, unless otherwise noted. For further detail, please also refer to both the quarterly financial supplement and the Company's Quarterly Report on Form 10-Q, which can be retrieved from the Investors section of our website at www.gladstonecommercial.com.Summary Information (dollars in thousands, except share and per share data): As of and for the three months ended June 30, 2023 March 31, 2023 $ Change % Change Operating Data: Total operating revenue $38,658 $36,554 $2,104 5.8%Total operating expenses (33,716)(1) (24,664) (9,052) 36.7%Other expense, net (9,530)(2) (8,723) (807) 9.3%Net (loss) income $(4,588) $3,167 $(7,755) (244.9)%Less: Dividends attributable to preferred stock (3,058) (3,022) (36) 1.2%Less: Dividends attributable to senior common stock (106) (109) 3 (2.8)%Less: Loss on extinguishment of Series F preferred stock (6) (5) (1) 20.0%Add: Gain on repurchase of Series G preferred stock - 3 (3) (100.0)%Net (loss) gain (attributable) available to common stockholders and Non-controlling OP Unitholders $(7,758) $34 $(7,792) (22,917.6)%Add: Real estate depreciation and amortization 16,936 14,704 2,232 15.2%Add: Impairment charge 6,823 - 6,823 100.0%Add: Loss on sale of real estate, net 451 - 451 100.0%Funds from operations available to common stockholders and Non-controlling OP Unitholders - basic $16,452 $14,738 $1,714 11.6%Add: Convertible senior common distributions 106 109 (3) (2.8)%Funds from operations available to common stockholders and Non-controlling OP Unitholders - diluted $16,558 $14,847 $1,711 11.5% Funds from operations available to common stockholders and Non-controlling OP Unitholders - basic $16,452 $14,738 $1,714 11.6%Add: Write off shelf registration s...

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